October 09, 2019 10:25 PM IST Synergy Aerospace is still doing due diligence of Jet Airways, which was admitted for the insolvency on June 20, the airlines resolution professional Ashish Chhauchharia told the NCLT.
September 26, 2019 12:11 PM IST A three member NCLAT bench said that the Dutch administrator would be part of the CoC meeting and would be given minutes of the meetings.
September 25, 2019 05:04 PM IST The news follows after Jet Airways’ lone bidder, Synergy Group, met with government officials on September 18 to discuss revival of the sunken airline and recovery of its flying slots.
September 20, 2019 10:03 AM IST The index is just 25 points away from turning negative for the year 2019, and has fallen 4,219 points or little over 10 percent from its record high of 40,312 registered in June 2019.
September 19, 2019 04:25 PM IST Synergy Group will also send a team to evaluate Jet Airways’ assets, the report said. It has met the beleaguered airlines' lenders and presented a potential business plans, which entails downscaling its operations
September 16, 2019 09:53 PM IST When contacted, Antonio Guizzetti, the president of the Washington-based Guizzetti & Associates, which is the legal adviser to the Synergy Group, said he was not aware of the developments.
September 10, 2019 11:26 AM IST September 09, 2019 07:02 PM IST The rights are being distributed temporarily and will be taken back if Jet resumes operations.
September 06, 2019 05:00 PM IST This is the first time that the central agency is grilling him after it conducted searches against him last year.
September 04, 2019 02:58 PM IST NCLAT also said IRP may consult the CoC before finalising the draft. It listed the next hearing for September 20.
September 04, 2019 07:40 AM IST South American conglomerate Synergy Group Corp has expressed an interest in acquiring a majority stake in grounded Jet Airways.
September 02, 2019 08:50 PM IST The third deadline for submission of Expression of Interest (EoI) ended on August 31. With no new bidders emerging during this period, there are only three entities that had put in their initial bids earlier.
August 29, 2019 11:10 AM IST Cash-strapped Jet Airways temporarily suspended is operations in April.
August 26, 2019 10:10 PM IST The decision to extend the deadline for EoIs was taken by the lenders at a meeting of committee of creditors held in the financial capital.
August 26, 2019 07:39 PM IST In this Money Control Deep Dive, we bring you the Jet airways saga in the context of just how the company came to this juncture.
August 26, 2019 10:24 AM IST Sources in the industry fear that the interest in Jet may be limited to its assets such as aircraft and airport slots
August 23, 2019 08:53 PM IST The Enforcement Directorate found that Jet Airways paid a higher commission to their agents, and in most of the cases, the commissions were paid to these companies were non-existent. In another method, expenditures were inflated, and the money was sent money overseas.
August 23, 2019 02:48 PM IST The searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at gathering additional evidence.
August 23, 2019 02:35 PM IST InterGlobe and SpiceJet shot up around 60 percent each in last nine months, thanks to suspension of airline services by cash-strapped Jet Airways which resulted into higher ticket prices and stable crude oil prices.
August 22, 2019 10:43 AM IST The list was to be issued on August 21. It may be delayed by two days.
August 21, 2019 03:55 PM IST The appellate tribunal has also asked the CoC to inform whether they are ready to pay fees and bear costs incurred by the Dutch administrator.
August 16, 2019 04:30 PM IST The affairs of Jet Airways, which closed down its operations on April 17, are now being managed by resolution professional Ashish Chhawchharia under the insolvency law.
August 14, 2019 10:35 AM IST Has the demise of Jet Airways given new wings to Indian aviation?
August 13, 2019 09:00 AM IST None of the two remaining suitors are known to have prior interest in aviation. A prospective list of bidders will be announced on August 13
August 12, 2019 06:47 PM IST Volcan Investments, the family trust of Vedanta Chairman Anil Agarwal, had submitted an EoI for the debt-ridden airline giving a fresh lease of life to the subdued bidding process.
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